Here we are good old Labour. I thought after 13 years of Labour rule they were getting rid of the red tape but there we are. All the penalties are increasing across the board from Companies House to HMRC. Sooner or later there will be no need for enquiries because the penalties will take care of whatever monies are outstanding.
Not more than 1 month
|
£150
|
More than 1 month but no more than 3 months
|
£375
|
More than 3 months but no more than 6 months
|
£750
|
More than 6 months
|
£1500
|
Number of Times Payments are Late in a Tax Year
|
Penalty Percentage
|
1
|
No Penalty
|
2 – 4
|
1%
|
5 – 7
|
2%
|
8 – 10
|
3%
|
11 or more
|
4%
|
Minimum
|
Maximum
|
|
Reasonable Care
|
No Penalty
|
No Penalty
|
Careless Unprompted
|
0%
|
30%
|
Careless Prompted
|
15%
|
30%
|
Deliberate Unprompted
|
20%
|
70%
|
Deliberate Prompted
|
35%
|
70%
|
Deliberate and Concealed Unprompted
|
30%
|
100%
|
Deliberate and Concealed Prompted
|
50%
|
100%
|